PetroChina Company Limited
PTR
position
long
Warren Buffett
Thesis
Warren Buffett noted that when he first looked at PetroChina, he believed it was worth about $100 billion, but it was only selling for $35 billion at the time. This significant discount for one of the world’s largest oil companies caught his attention, leading him to invest with a margin of safety.
Did it work?
failed
confidence: high
The thesis was based on the belief that PetroChina was significantly undervalued, with a target valuation of $100 billion compared to its market price of $35 billion. However, the stock has since declined by 94.3%, indicating that the investment thesis did not hold true and the anticipated value appreciation did not materialize.
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